Cryptocurrencies emerged in the digital world just a few years back but environmental experts are increasingly wary about their development and the impact it creates on the climate.
The professionals at the University of Hawaii at Manoa published a paper in the journal Nature Climate Change where they expressed their dislike for Bitcoin mining. The experts studied the mining process at different stages and concluded in the report that if the mining continues at the same pace, it could raise the global temperature by two degrees Celsius until 2033.
In fact, the experts claimed that even a 1.5 degree Celsius increase in the temperature could result in catastrophic and irreparable damage to the planet.
The researchers took note of all the factors related to mining such as the use of energy, power consumption, the hardware used, and the geographical locations of Bitcoin miners. During the study, they found that in 2017 alone, Bitcoin mining emitted 69 million metric tons of CO2.
Although, the future of cryptocurrency is still uncertain – the impact it has on the environment is definite. If bitcoins are adapted at the same rate as the present, the day is not far when cryptocurrency mining will also be seen as the major contributor to global warming.
Read Next: In-Demand Careers In Cryptocurrency and Blockchain
The professionals at the University of Hawaii at Manoa published a paper in the journal Nature Climate Change where they expressed their dislike for Bitcoin mining. The experts studied the mining process at different stages and concluded in the report that if the mining continues at the same pace, it could raise the global temperature by two degrees Celsius until 2033.
In fact, the experts claimed that even a 1.5 degree Celsius increase in the temperature could result in catastrophic and irreparable damage to the planet.
The researchers took note of all the factors related to mining such as the use of energy, power consumption, the hardware used, and the geographical locations of Bitcoin miners. During the study, they found that in 2017 alone, Bitcoin mining emitted 69 million metric tons of CO2.
Although, the future of cryptocurrency is still uncertain – the impact it has on the environment is definite. If bitcoins are adapted at the same rate as the present, the day is not far when cryptocurrency mining will also be seen as the major contributor to global warming.
Read Next: In-Demand Careers In Cryptocurrency and Blockchain
